Lazard completes Campbell Lutyens deal, launches Lazard CL

Lazard completed its acquisition of Campbell Lutyens, a private capital advisory firm, and launched Lazard CL, combining it with Lazard's own private capital advisory business. The unit has more than 300 advisory professionals and 19 offices worldwide. Terms were not given in the release.

Why it matters: Lazard CL becomes the firm's third global business, aimed at diversifying revenue under its 2030 strategy.